Adobe Inc. $ADBE Stock Position Decreased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 21.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,553 shares of the software company’s stock after selling 3,361 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Adobe were worth $4,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.4% in the first quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after buying an additional 126,688 shares during the period. Amundi boosted its position in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Adobe by 68.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after buying an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Adobe by 6.8% during the first quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock valued at $1,432,680,000 after buying an additional 238,542 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. TD Cowen reduced their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. Piper Sandler lowered their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Mizuho downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Finally, Citigroup dropped their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Adobe Stock Down 2.0%

Shares of ADBE stock opened at $318.11 on Thursday. The stock’s 50 day simple moving average is $344.71 and its 200 day simple moving average is $365.98. Adobe Inc. has a twelve month low of $315.17 and a twelve month high of $557.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $133.16 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.51 and a beta of 1.48.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the company posted $4.65 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.